A talented team of authors has collaborated to provide updates in the new developments in sales inducements, persistency bonuses, other SOP 03-1 issues, FAS133 interpretations (including B36, treatments for GMDB, GMAB, GMIB, and GMWB), no-lapse guarantees, EIA valuation, shock lapse examples and totally new purchase GAAP addressing FAS141 and FAS142 and VA DAC practices. The text includes more foreign product examples, reinsurance accounting, fair value perspectives and GAAP balance sheet and income statement examples in 100 new spreadsheets and over 200 additional pages.